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Stocks in news: PNB, Bharti Airtel, Nazara Technologies, Tech Mahindra and more

Stocks in news: PNB, Bharti Airtel, Nazara Technologies, Tech Mahindra and more

On August 27, the benchmark indices closed at all-time highs amid mixed global cues. Sensex ended 175 points higher at 56,124 and Nifty gained 68 points to 16,705

Stocks in news: PNB, Bharti Airtel, Nazara Technologies, Tech Mahindra and more Stocks in news: PNB, Bharti Airtel, Nazara Technologies, Tech Mahindra and more

Indian benchmark indices are likely to open in the green today as SGX Nifty was trading 95 points higher at 16,820 amid positive global cues.

On August 27, the benchmark indices closed at all-time highs amid mixed global cues. Sensex ended 175 points higher at 56,124 and Nifty gained 68 points to 16,705.

Here's a look at stocks, which are likely to remain in news today.

PNB: "The Department of Financial Services, Ministry of Finance, vide its notification dated August 26, 2021, has extended the term of office of S S Mallikarjuna Rao, managing director and chief executive officer of the bank (PNB), for a period beyond September 18, 2021," PNB said in a regulatory filing.

Nazara Technologies: The company said it has acquired Hyderabad-based OpenPlay for Rs 186.41 crore. Nazara's Board has approved the acquisition of OpenPlay Technologies from its existing shareholders - Sreeram Reddy Vanga and Unnati Management Consultants LLP - at a consideration of Rs 186.41 crore, in one or more tranches, a regulatory filing said.

"In the first tranche of the strategic investment, the company shall acquire 23.30 per cent of the issued and paid-up share capital of OpenPlay for a consideration of Rs 43.43 crores, by end of Q2 of FY 2021-22," it added.

Bharti Airtel: The company said its board has approved raising up to Rs 21,000 crore through a rights issue. The company's board of directors at its meeting comprehensively reviewed the industry scenario, business environment, financial/ business strategy of the company and approved the plan to raise further capital.

"Accordingly, the board approved the issuance of equity shares of face value of Rs 5/- each of the company on rights basis to eligible equity shareholders of the company as on the record date (to be notified later), of an issue size of upto Rs 21,000 crore," the telecom operator said in an exchange filing.

Mahindra & Mahindra Ltd: The company said group firm, Mahindra Defence Systems Limited (MDS) has bagged a contract worth Rs 1,349.95 crore for manufacturing of Integrated Anti-Submarine Warfare Defence Suite (IADS) for modern warships of Indian Navy from the Indian government.

Tech Mahindra: The company said that its wholly owned subsidiary viz., Tech Mahindra (Americas) Inc., approved the proposal to acquire 13.8% equity shares in AustinGiS. The investment will help Tech Mahindra develop new offerings in its loT/SG capabilities by opening up a strong ecosystem of partners with specialization in SG/loT technology.

IDBI Bank: IDBI Bank said its board has okayed a proposal to divest its entire stake of over 19 per cent in ARCIL.
The decision was taken at a meeting of the board of directors on Friday.

The board has approved the proposal for sale of IDBI Bank''s entire holding of 6,23,23,800 fully paid-up equity shares constituting 19.18 per cent of the total equity share capital of Asset Reconstruction Company (India) Ltd (ARCIL), IDBI Bank said in a regulatory filing.